Discontinued Operations

9 Months Ended

Jun. 30, 2018

Discontinued Operations

Discontinued Operations

3.Discontinued Operations

Current and noncurrent liabilities consist of municipal and income taxes payable and social obligations due within the country of Venezuela.  Expenses incurred for in-country obligations are reported as discontinued operations.    The activity for the three and nine months ended June 30, 2018 was impacted by the devaluation of the Venezuela bolivar.  Early in 2018, the Venezuelan government announced that it changed the existing dual-rate foreign currency exchange system by eliminating its heavily subsidized foreign exchange rate, which was 10 Bolivars per United States dollar, and relaunced an exchange system known as DICOM.  The DICOM floating rate was approximately 115,000 Bolivars per United States dollar at June 30, 2018.